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Thursday, June 7, 2012

Market Thought... same wall, same worry

Good day today. Tomorrow could be another good day, or a bad day, depends on the direction of the 'end of world' philosophy is flying.

There really is not much to say. There hasn't been a lot to say except to ask the inevitable questions as highlighted in my last post.

The game Europe is playing is getting old. Its tiresome.  I mean, CNBC had a special about Spanish bank runs. Spanish bank runs! For fuck sake, the entire periphery has been in a bank run since August 2011. As if this was some new earthly revelation!

We are now at the literal and psychological do-or-die point for Europe. Given the increased chatter for Germany's willingness to experiment with ideas, and actually ironing out pre-requisite financial infra-structure for an eventual Eurobond, the market is right to get giddy.

Today the SP500 gained some technical footing. If we get follow through, a bottom maybe in the works. (A few internal stocks are already showing signs of bottoming. For example, FCX, SU, SLB, IBM, AAPL, the SOXX etc)

But tomorrow is a new day. Maybe the wind blows piss of some EU Official's shoe, and his frustration caused him to tell Spain to fuck off and the market decides to decline 30 points. I don't know.

At this point, I just want the EU bs to subside.

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